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Iridium Communications Inc. (IRDM) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Iridium Communications Inc.

CIK: 1418819 Ticker: IRDM

Exhibit 99.1

 

LOGO

FOR RELEASE THURSDAY, OCTOBER 25, 2018

 

Investor Contact:   Press Contact:

Kenneth Levy

Iridium Communications Inc.

+1 (703) 287-7570

ken.levy@iridium.com

 

Jordan Hassin

Iridium Communications Inc.

+1 (703) 287-7421

jordan.hassin@iridium.com

IRIDIUM ANNOUNCES THIRD-QUARTER 2018 RESULTS; COMPANY

RAISES 2018 OUTLOOK

•    2018 Outlook for Service Revenue Growth Raised to Approximately 14%  

•    2018 Outlook for OEBITDA Raised to Approximately $300 Million

MCLEAN, Va. – October 25, 2018 – Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”) today reported financial results for the third quarter of 2018 and updated its full-year 2018 outlook. Net loss was $12.9 million, or $0.13 per diluted share, for the third quarter of 2018, as compared to net income of $29.3 million, or $0.23 per diluted share, for the third quarter of 2017. This decrease in net income was primarily the result of a $39.2 million increase in depreciation and amortization expense from the year-ago period, reflecting an increased number of Iridium NEXT satellites in service. Operational EBITDA (“OEBITDA”)(1) for the third quarter was $79.4 million, as compared to $71.8 million for the prior-year period, representing a year-over-year increase of 11% and an OEBITDA margin(1) of 58%. OEBITDA benefitted from higher commercial service revenue and continued strength in equipment sales.

Iridium reported third-quarter total revenue of $136.8 million, which consisted of $105.7 million of service revenue and $31.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 17% versus the comparable period of 2017, while service revenue grew by 18% from the year-ago period. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, was 77% of total revenue for the third quarter of 2018.


The following information was filed by Iridium Communications Inc. (IRDM) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Operations And Comprehensive Income
Basis Of Presentation And Principles Of Consolidation
Boeing Insourcing Agreement
Boeing Insourcing Agreement (Details)
Cash And Cash Equivalents, Restricted Cash And Marketable Securities
Cash And Cash Equivalents, Restricted Cash And Marketable Securities (Tables)
Cash And Cash Equivalents, Restricted Cash And Marketable Securities - Narrative (Details)
Cash And Cash Equivalents, Restricted Cash And Marketable Securities - Summary Of Cash And Cash Equivalents (Details)
Cash And Cash Equivalents, Restricted Cash And Marketable Securities - Summary Of Contractual Maturities Of Marketable Securities (Details)
Cash And Cash Equivalents, Restricted Cash And Marketable Securities - Summary Of Marketable Securities (Details)
Commitments And Contingencies
Commitments And Contingencies - Narrative (Details)
Debt
Debt (Tables)
Debt - Credit Facility Future Principal Repayments (Details)
Debt - Narrative (Details)
Equity Transactions
Equity Transactions (Details)
Income Taxes
Income Taxes (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Details)
Net Income (Loss) Per Share (Tables)
Related Party Transactions
Related Party Transactions (Details)
Revenue
Revenue (Tables)
Revenue - Narrative (Details)
Revenue - Summary Of Contract Costs (Details)
Revenue - Summary Of Impact Of The Implementation Of New Revenue Standard (Details)
Revenue - Summary Of Service Revenue (Details)
Revenue - U.S. Government Contract (Details)
Significant Accounting Policies
Significant Accounting Policies (Policies)
Stock-Based Compensation
Stock-Based Compensation (Details)

Material Contracts, Statements, Certifications & more

Iridium Communications Inc. provided additional information to their SEC Filing as exhibits

Ticker: IRDM
CIK: 1418819
Form Type: 10-Q Quarterly Report
Accession Number: 0001418819-18-000017
Submitted to the SEC: Thu Oct 25 2018 7:05:50 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Communications Equipment

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